Top research execs from Teva, Allergan recruited to help lead Axovant out of the R&D wasteland
Roivant’s Vivek Ramaswamy may have run into a nasty mess with the failure of Axovant’s lead Alzheimer’s drug, but he can still recruit top talent for his growing organization.
Ex-Teva R&D chief Michael Hayden is coming on board as a senior scientific adviser as well as head of subsidiary Axovant’s scientific advisory board. That marks a big step to opening his next chapter in biopharma after getting blown up in the big Teva reorganization that followed weak generic revenue and a paltry R&D game plan.
Allergan $AGN CMO Gavin Corcoran, meanwhile, is jumping ship to become the new head of R&D at Axovant $AXON, according to CEO Pavan Cheruvu. Cheruvu was promoted up to the top position in the wake of a revamp that claimed almost half of the staff.
The first CEO, the high profile David Hung —and his crew — exited out the back door in the wake of the catastrophic failure, which has raised some serious doubts about what Ramaswamy has been promoting to investors.
“I share Pavan’s vision of rebuilding the company on a foundation of transformative science and I look forward to expanding Axovant’s Scientific Advisory Board,” said Hayden in a prepared statement. “I have been very impressed with the caliber of the Axovant team and am excited about the future growth of the company.”